https://www.taxtmi.com/caselaws?id=763790 The CESTAT NEW DELHI held that penalty under Section 114AA of the Customs Act cannot be imposed for mis-declaration made to DGFT for EPCG license, as such declaration is not a proceeding under the Customs Act but under Foreign Trade Policy. The tribunal clarified that "liable to penalty" means discretionary imposition, not mandatory, and requires judicial exercise of discretion. The appellant's penalty was set aside since the alleged mis-declaration of machinery's manufacturing year was made in Foreign Trade proceedings, not Customs proceedings, falling outside Section 114AA's scope. en-us Mon, 23 Dec 2024 00:00:00 +0530 Fri, 27 Dec 2024 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763790 The CESTAT NEW DELHI held that penalty under Section 114AA of the Customs Act cannot be imposed for mis-declaration made to DGFT for EPCG license, as such declaration is not a proceeding under the Customs Act but under Foreign Trade Policy. The tribunal clarified that "liable to penalty" means discretionary imposition, not mandatory, and requires judicial exercise of discretion. The appellant's penalty was set aside since the alleged mis-declaration of machinery's manufacturing year was made in Foreign Trade proceedings, not Customs proceedings, falling outside Section 114AA's scope. Case-Laws Customs Mon, 23 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763790